Tennessee U.S. Senator Marsha Blackburn (R-TN) has joined a group of her colleagues in introducing a bill that would repeal the $10.5 billion “Superfund Tax” on American energy production.
If enacted, the Pay Less at the Pump Act, led by U.S. Senator John Barrasso (R-WY), would repeal the “Superfund Tax,” which was reinstated as part of the Inflation Reduction Act.
Republicans describe the tax, which targets crude oil and imported petroleum products, as “burdensome” and a “prime example of the Biden administration exacerbating a problem rather than solving it.”
Hardworking families in Wyoming are paying the price for the Democrats’ war on American energy. That’s why I introduced the Pay Less at the Pump Act. It will lower energy costs by repealing the $10.5 billion “Superfund Tax” on American energy production. https://t.co/EG8fcJxZsr
— Sen. John Barrasso (@SenJohnBarrasso) June 13, 2023
“Upon reinstatement of the long-expired tax, the tax was raised from its original 9.7 cents per barrel to a new rate of 16.4 cents per barrel. Additionally, the tax was indexed to inflation, meaning higher tax burdens in future years,” the group of senators explain.
“As part of their radical green energy agenda, Democrats are intent on hampering American energy production, and everyday Tennesseans are feeling the impact at the pump,” Blackburn said in a statement. “It’s time we repeal the “Superfund Tax” and allow families and businesses in Tennessee to flourish without having to pay crushing taxes.”
“With many Tennessee families traveling for the 4th of July, it is essential that gas prices won’t break the bank. The Pay Less at the Pump Act will allow companies to produce American energy unencumbered and keep prices low for the American people,” Blackburn added.
On Sunday, the average price for a gallon of unleaded gasoline in Tennessee was $3.08. Nationally, the average price was $3.53, according to the American Automobile Association (AAA).
Three years ago during the Trump Administration, the national average price for a gallon of unleaded gas was $2.17 around the July 4 holiday.
In addition to Blackburn, cosponsors of Barrasso’s legislation include U.S. Senators John Thune (R-SD), Cynthia Lummis (R-WY), James Lankford (R-OK), Jim Risch (R-ID), Mike Lee (R-UT), Tim Scott (R-SC), and John Hoeven (R-ND).
This bill has also received support from the American Fuel Petrochemical Manufacturers, the American Petroleum Institute, and the Petroleum Association of Wyoming.
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Kaitlin Housler is a reporter at The Tennessee Star and The Star News Network.
Photo “Marsha Blackburn” by Marsha Blackburn. Background Photo “U.S. Capitol” by Grant Page.
